Hollywood Coalition Calls on Senate Leaders to Act on “Critical Issue” of Pandemic Insurance Katie Kilkenny US Capitol In Washington
A coalition of industry guilds and organizations is again calling on U.S. legislators to implement accessible pandemic risk insurance coverage as COVID-19 continues to disrupt Hollywood production.
“As you develop the agenda for the Senate Committee on Banking, Housing, and Urban Affairs for this year, the film, TV, and sports industries respectfully request that you address the broad economic impact that the withdrawal of pandemic risk coverage has created for our businesses,” a group of film, television and sports groups (including The Motion Picture Association, the Independent Film & Television Alliance, the NCTA – The Internet & Television Association, the Directors Guild of America, the National Association of Broadcasters, IATSE, the Producers Guild of America, American Coalition for Independent Content Productio
A New Year’s Nightmare: COVID-19 Litigation Piling Up
Illustration by Tim Peacock
More than 1,000 lawsuits across industries have been filed against insurance firms over pandemic claims as Hollywood’s largest companies take a wait and see approach on who prevails in court. Unprecedented has become a buzzword amid the pandemic, but when it comes to the financial fallout from business interruptions and the resulting landscape of lawsuits against insurance companies that are denying claims, there truly has never been a fight of this scale.
The 1970s brought a wave of business interruption suits against insurers involving asbestos contamination; in the ’80s, environmental pollution led to courtroom fights; and the terrorist attacks on Sept. 11, 2001, launched a litany of legal disputes, the last of which didn’t end until 2018. Yet the legal war over COVID-related insurance claims is expected to dwarf any of those battlefields, according to those entrenched in this niche o
Government insurance for business interruption losses from pandemics: An evaluation of its feasibility and possible frameworks wiley.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wiley.com Daily Mail and Mail on Sunday newspapers.
Nonprofits Get Limited Relief In Stimulus Deal
December 22, 2020
The $900-billion stimulus package approved by Congress in response to the pandemic includes some key measures supported by nonprofit constituencies but some say it doesn’t do enough for the nation’s charities and hope for more Congressional action in 2021.
The COVID-19 Relief Bill and Consolidated Appropriations Act of 2021 funds appropriations for the federal government, includes COVID relief and extends expiring tax provisions. Among the provisions included in the more than 5,000-page bill are an extension of the Universal Charitable Deduction (UCD) through 2021, and another round of Paycheck Protection Program (PPP) funding through March that now includes association.
Black swan event fears plague global insurers
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Dismiss Black swan event fears plague global insurers
By Lucca de Paoli, Katherine Chiglinsky and Benjamin Robertson
December 14, 2020 10.05am
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There aren t many contexts where $US2 trillion ($2.7 trillion) seems like a paltry sum. Then a pandemic comes along.
The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses discovering they weren t covered. It s resulted in courts packed with lawsuits and governments scrambling to head off more pain.
Crippled by the pandemic, insurers fear they may not be ready for a black swan event.